As you continue developing your business plan for entering the new country, assess any financial and accounting challenges by answering the following questions:

• Examine the financial statements of competitors in the country. Are there any differences in terms of language, currency, or the type of statements (income statement, balance sheet, financial statement format, extent of footnote disclosures, and the underlying GAAP [generally accepted accounting principles]) between your organization’s reports in the United States and the reports required by law in the country? Review The Role of Similar Accounting Standards in CrossBorder Mergers and Acquisitions.

• What are the challenges your organization may face in the country because of its accounting standards?

• What is the required investment for relocating your organization’s value-chain activities to the country for years 1, 2, and 3? What are the projected savings, if any, for the same time periods? Provide justification for your estimates.

• What are your estimates of revenue projections for your company in the country for years 1, 2, and 3?

After you have assessed the financial and accounting challenges associated with entering the new country, continue to the next step, where you will address strategy implementation and control measures.

8 Prepare Strategy Implementation Plan

The next step of developing your business plan is to address strategy implementation and control measures by discussing the following components:

• Specify the major factors to be tracked for strategy effectiveness using the four perspectives of the balanced scorecard: learning and growth perspective, business process perspective, customer perspective, and financial perspective.

• Specify how your organization will monitor and report issues with joint-venture partners, subsidiaries, suppliers, and distributors in the country.

When you have addressed strategy implementation and control measures, continue to the next step, where you will make recommendations about your organization’s governance and accountability standards.

9 Address Governance and Accountability Issues

As you continue developing your business plan, next make recommendations about your organization’s governance and accountability standards by answering the following questions:

• How do your organization’s governance and accountability and code of conduct or ethics address risks such as bribery and corruption? Search for Transparency International’s Corruption Perceptions Index online and make recommendations for changes to the code, if needed, for operations in the selected country.

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• Do your organization’s corporate social responsibility (CSR) policies address local community interests, stakeholders’ concerns, and supplier relationships? Make recommendations for CSR changes to the program, if needed.